IBM (IBM.N) dismissed on Monday a Forbes magazine report claiming the technology firm is preparing to cut about 26 percent of its workforce, which would represent its biggest-ever layoffs.

IBM is cutting jobs, as disclosed in its latest earnings report last week, but those reductions will affect "several thousand" employees, a "small fraction" of what Forbes reported, according to an emailed statement from IBM to Reuters. Forbes had said as many as 112,000 employees could be laid off. - Reuters (full story)

Cringely follow up with this article:

So what's the truth about these job cuts? Well we'll know this week because I hear the notices are already in transit to be delivered on Wednesday. (I originally wrote in the mail but then realized IBM would condemn me if they are coming by FedEx, instead.)

I think IBM is dissembling, fixating on the term 110,000 layoffs, which by the way I never used. Like my young sons who never hit each other but instead push, slap, graze, or brush, IBM is playing word games to obscure the truth. - Full Cringely post This makes the rest of the week mighty interesting.